South Korea Invests in Fuel Cells

Doosan
400 kW module, © Doosan Fuel Cell Korea

Since 2008, South Korea has aggressively pushed the development of the fuel cell markets for stationary and mobile use. The driving factor behind the government’s decision was the global economic crisis, which led to an equally painful economic downturn in Asia. In the country officially called the Republic of Korea, it awakened dark memories

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There Is No Stopping Plug Power

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Plug Power has been partnering with HyGear since June 2016, © Plug Power

If the number of order bookings is anything to go by, then Plug Power is not only doing very well, but the company will be able to easily achieve or even exceed its ambitious goals: New orders worth USD 72 million in the first quarter increased backlog to an impressive USD 278 million. The new booking target figure this year is USD 275 million. The revenue target is USD 150 million – after USD 100 million last year.

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Fuel Cell Market is Growing

The-Fuel-Cell-Industry-Review-2015November 2015 saw the publication of the Fuel Cell Industry Review 2015, including market data and analyses for 2015. Since 2014, a team led by E4tech had contacted fuel cell companies around the globe, aggregated their supply figures and can now show the latest trends in the industry, much as Fuel Cell Today had done before its survey came to a halt. The following will present some excerpts from the review.

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H2IntraDrive – Testing Industrial Fuel Cell Trucks

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Quick H2 refill, © Linde MH

The presentation of the results of the H2IntraDrive project was not a sales event or press conference – it was both. On Nov. 23, 2015, the project partners as well as representatives of prospective new partners and some reporters gathered in the BMW factory in Leipzig to take a look at the results of two years of development. The important thing to take away from the event was:

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Plug Power: Unshakable growth

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Forklift trucks near Prelodis in France, © Plug Power

Whichever enterprise figure is in the focus of the stock market, it will become the basis for share price development: With around US$ 31.5 million in the third quarter, Plug did deliver the expected turnover revenue, but had to continue posting a loss that the stock market took as a negative sign (expressed in US cents per share).

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Ballard: Year of the “Right” and “Sustainable” Growth

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FCvelocity-HD7 module, © Ballard

Ballard Power is placing a bigger focus on China, evidenced by the various agreements with Chinese companies from the field of bus manufacturing and the development of hydrogen-driven rail vehicles. According to company information, the Canadian fuel-cell manufacturer paid special attention to only collaborate with known, reputable partners, whether big or small, which enjoy their own location advantages.

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Ballard: Big vision for China

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P200i back-up system, © Protonex

Second quarter figures certainly fell short of expectations. All segments reported decreasing revenues. Still: The second half of 2015 should bring forth many positive developments in several areas, according to Ballard’s CEO, Randall MacEwen. FuelCell Energy would be “extremely busy.” This means: I assume that the takeover of Protonex will soon become reality, as over 50% of preliminary votes by Protonex’s shareholders were in favor of the deal.

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116 radio masts are equipped with FC systems

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BOS in Brandenburg, ©: CPN

The area of USV systems – along with the mobility sector and the supply of domestic energy – offers a wide range of possible applications to fuel cells. Since 2010, the Clean Power Net (CPN) sector network has been focusing on companies which work in the areas of the uninterrupted and off-grid supply of electricity, or Smart Grids. One of the most important projects in this field is the large-scale order to the value of 6.6 m. Euros for equipping more than 100 radio masts in Brandenburg, Germany, with fuel cell systems for the purpose of emergency power supply.

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Plug Power takes over HyPulsion

The HyPulsion joint venture has now been owned in full by Plug Power since August 2015. As announced by the American (USA) company on July 27th 2015, it has acquired all of the shares in its former partner Axane, a subsidiary of the gases company Air Liquide. The New York-based manufacturer of fuel cells paid US-$ 11.5 m. for 80 % of the shares. In 2012, Plug Power and Axane joined forces to form HyPulsion, primarily with the goal of kick-starting the market for fuel cell forklift trucks. Andy Marsh, managing director of Plug Power, made the following comments: “We are now moving ahead with optimism to extend our presence in the European materials handling market. […] I am pleased that our collaboration with Air Liquide for the further development of the hydrogen sector in Europe is continuing.”

Plug Power: Home-made price weaknesses?

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Courses of the share prices of four listed companies

It may well be the case that Plug Power has itself triggered the fall in the price of its shares that occurred in recent weeks, as described in detail and substantiated by a report (Seeking Alpha dating from 2.9.2015). In detail: 1. The takeover of HyPulsion, the European joint venture with Air Liquide for US-$ 11.5 m. was settled in shares (6.4 m. units due to the fall in the share price instead of the originally planned 4.8 m. shares), whereby it had already been made clear that the Air Liquide subsidiary, Axane SA, would register these shares and sell them on the stock exchange. Plug would have been better off paying the US-$ 11.5 m.

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